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Mortgage Rates

BUSINESS
April 13, 2012 | By E. Scott Reckard, Los Angeles Times
Mortgage rates are sharply lower on news of a weakening job market, with the 30-year fixed loan averaging 3.88% this week and the 15-year fixed at a record low of 3.11%, according to Freddie Mac. The average for the 30-year loan was down from 3.98% a week earlier, Freddie Mac said in its latest weekly report. The 15-year mortgage, popular with refinancers seeking to pay off their loans, was down from 3.21% a week ago. Its previous record low of 3.13% was set March 8. The start rates for adjustable mortgages were little changed.
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BUSINESS
May 10, 2012 | By E. Scott Reckard
Mortgage rates have descended further into record low territory for the second straight week, with the average for a 30-year, fixed-rate loan dropping to 3.83% from 3.84% last week, Freddie Mac said. The 15-year fixed loan also dipped to a record low, falling from 3.07% to 3.05%, according to  Freddie Mac's latest survey , released Thursday. Borrowers would have paid an average of 0.7% in upfront lender fees to obtain the fixed-rate loans. People with solid credit and incomes who shop around or who pay additional discount points to lenders often can obtain slightly better rates than those quoted by Freddie Mac. Adjustable loans were mixed.
BUSINESS
December 19, 2013 | By E. Scott Reckard
Mortgage rates rose a bit this week following positive news on home building, with Freddie Mac saying lenders were offering a 30-year fixed-rate loan at an average of 4.47%, up from 4.42% last week. The average for a 15-year fixed was 3.51%, up from 3.43% last week, Freddie Mac reported Thursday. Its survey assumes borrowers have solid credit and income, provide at least 20% down payments or home equity, and pay less than 1% of the loan amount in lender fees and points. Start rates on popular types of adjustable rate loans also were higher, Freddie Mac said.
BUSINESS
October 3, 2013 | By E. Scott Reckard
Mortgage rates have tumbled for the third straight week, with Freddie Mac pegging the 30-year fixed loan at an average of 4.22%, down from 4.32% last week to the lowest level since June. But what good is a low rate if a lender can't process your application? A protracted government shutdown would hamper the ability of lenders to confirm borrowers' incomes and identities, as well as threatening loans that are backed by agencies such as the Federal Housing Administration. “The federal government shutdown will have a growing impact on the housing market the longer it continues,” David H. Stevens, president and chief executive of the Mortgage Bankers Assn., said in a statement Thursday.
BUSINESS
August 20, 2010 | By E. Scott Reckard, Los Angeles Times
Mortgage rates have set record lows for the eighth time in nine weeks, and the bargain-basement rates are prompting homeowners to file the most home-refinancing applications in 15 months. The average rate offered on a 30-year fixed home loan fell this week to 4.42%, down from 4.44% last week, Freddie Mac reported Thursday. The latest figure is the lowest since the giant mortgage buyer began its rate survey in 1971. Freddie Mac's weekly survey asks lenders what they are offering a solid-credit borrower with home equity of at least 20% — or, for a home purchase, a down payment of at least 20%. Along with the rates offered, lenders on average were charging 0.7% of the loan amount in upfront fees.
BUSINESS
October 25, 2012 | By E. Scott Reckard
Mortgage rates edged higher early this week from their recent record lows, with the average interest on a 30-year fixed-rate loan rising from 3.37% last week to 3.41%, Freddie Mac's latest survey showed. Rates on 15-year fixed home loans averaged 2.72%, up from 2.66%, according to the survey released Thursday morning. It is based on what mortgage lenders say they are offering to solid borrowers with 20% down payments. Rock-bottom rates are supporting the recovering housing market and a big wave of refinance mortgages.
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